Brokerages Set Monarch Casino & Resort, Inc. (NASDAQ:MCRI) PT at $87.20

Shares of Monarch Casino & Resort, Inc. (NASDAQ:MCRI) have received an average recommendation of “Hold” from the five research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $87.20.

Several research firms have recently issued reports on MCRI. Truist Financial upgraded Monarch Casino & Resort from a “hold” rating to a “buy” rating and raised their price objective for the stock from $82.00 to $100.00 in a report on Tuesday, January 14th. Stifel Nicolaus raised their price objective on Monarch Casino & Resort from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. StockNews.com cut Monarch Casino & Resort from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Jefferies Financial Group raised their price objective on Monarch Casino & Resort from $73.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company raised their price objective on Monarch Casino & Resort from $79.00 to $82.00 and gave the stock an “underweight” rating in a report on Wednesday, February 12th.

Insider Activity at Monarch Casino & Resort

In related news, CEO John Farahi sold 1,000 shares of Monarch Casino & Resort stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $77.70, for a total value of $77,700.00. Following the transaction, the chief executive officer now owns 528,436 shares in the company, valued at approximately $41,059,477.20. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MCRI. Fuller & Thaler Asset Management Inc. purchased a new position in Monarch Casino & Resort in the fourth quarter valued at about $19,346,000. Jane Street Group LLC raised its position in Monarch Casino & Resort by 518.8% in the third quarter. Jane Street Group LLC now owns 117,072 shares of the company’s stock valued at $9,280,000 after purchasing an additional 98,153 shares during the period. Raymond James Financial Inc. purchased a new position in Monarch Casino & Resort in the fourth quarter valued at about $6,118,000. Weiss Asset Management LP raised its position in Monarch Casino & Resort by 1,289.7% in the third quarter. Weiss Asset Management LP now owns 79,212 shares of the company’s stock valued at $6,279,000 after purchasing an additional 73,512 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Monarch Casino & Resort by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 918,734 shares of the company’s stock valued at $72,488,000 after purchasing an additional 72,764 shares during the period. 62.37% of the stock is owned by hedge funds and other institutional investors.

Monarch Casino & Resort Stock Performance

Monarch Casino & Resort stock opened at $91.58 on Friday. The stock has a fifty day moving average of $84.16 and a two-hundred day moving average of $80.72. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 18.50 and a beta of 1.74. Monarch Casino & Resort has a fifty-two week low of $64.50 and a fifty-two week high of $96.11.

Monarch Casino & Resort (NASDAQ:MCRI) last released its quarterly earnings results on Tuesday, February 11th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.23. Monarch Casino & Resort had a return on equity of 18.27% and a net margin of 18.01%. During the same quarter in the prior year, the business earned $1.03 earnings per share. On average, analysts forecast that Monarch Casino & Resort will post 5.13 EPS for the current fiscal year.

Monarch Casino & Resort Company Profile

Monarch Casino & Resort, Inc engages in the ownership and operation of the Atlantis Casino Resort Spa, a hotel and casino facility in Reno, Nevada, and the Monarch Black Hawk Casino in Black Hawk, Colorado. The company was founded in 1993 and is headquartered in Reno, NV.